"Aecon has a strong management team and a very impressive track record that have made it a leading construction company in Canada and a pioneer in public private partnerships and concession operations," CCCI president Lu Jianzhong said.

It will now gain access to significant capital, complementary infrastructure expertise and an international network to support its growth ambitions."

The offer requires the approval of two-thirds of the votes cast at a special meeting of Aecon shareholders as well as government and regulatory approvals under the Investment Canada Act, the Canadian Competition Act and authorities in China.

The announcement of the deal came as Aecon reported a third-quarter profit of $24.6 million or 37 cents per diluted share, down from a profit of $27.4 million or 42 cents per diluted share a year ago.

Revenue fell to $759.7 million compared with $838.1 million in the same quarter last year.